In a dramatic escalation of trade tensions, Canada imposes 25% retaliatory tariffs on U.S. goods in response to President Trump’s latest executive order. Trump had earlier signed a decree placing tariffs on imports from Canada, Mexico, and China, leading to swift retaliation from Canada. In this video, we break down the effects of these tariffs on both economies, the global implications, and the warning from Canadian leaders about the real consequences of Trump's aggressive trade moves.
#TradeWar #CanadaUSRelations #TrumpTariffs #RetaliatoryTariffs #EconomicImpact #CanadaTariffs #USTradePolicy #MexicoUS #ChinaTariffs #GlobalEconomy #TrumpAdministration
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#TradeWar #CanadaUSRelations #TrumpTariffs #RetaliatoryTariffs #EconomicImpact #CanadaTariffs #USTradePolicy #MexicoUS #ChinaTariffs #GlobalEconomy #TrumpAdministration
Also Read
Canada Follows Mexico, Trudeau Imposes 25% Retaliatory Tariffs On US As Trump Escalates Trade War :: https://www.oneindia.com/international/canada-follows-mexico-trudeau-claps-back-at-trump-with-25-retaliatory-tariffs-as-us-escalates-trad-4060073.html?ref=DMDesc
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Trump Imposes Tariffs On Canada, Mexico, China; Raises Prospect Of Inflation And Trade Conflict :: https://www.oneindia.com/international/trump-imposes-tariffs-on-canada-mexico-china-raises-prospect-of-inflation-and-trade-conflict-4060055.html?ref=DMDesc
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NewsTranscript
00:00Good evening. Today, the United States informed us they will be imposing 25% tariffs on Canadian
00:09exports to the United States and 10% on Canadian energy. A decision that, should they elect
00:16to proceed with, should take effect on Tuesday, February 4th.
00:22Tonight, first, I want to speak directly to Americans, our closest friends and neighbours.
00:30This is a choice that, yes, will harm Canadians, but beyond that, it will have real consequences
00:38for you, the American people. As I have consistently said, tariffs against Canada will put your
00:47jobs at risk, potentially shutting down American auto assembly plants and other manufacturing
00:54facilities. They will raise costs for you, including food at the grocery stores and gas
01:01at the pump. They will impede your access to an affordable supply of vital goods crucial
01:08for U.S. security, such as nickel, potash, uranium, steel, and aluminum. They will violate
01:18the free trade agreement that the President and I, along with our Mexican partner, negotiated
01:24and signed a few years ago. But it doesn't have to be this way. As President
01:32John F. Kennedy said many years ago, geography has made us neighbours, history has made us
01:39friends, economics has made us partners, and necessity has made us allies. That rang true
01:50for many decades prior to President Kennedy's time in office, and in the decades since.
01:58From the beaches of Normandy to the mountains of the Korean Peninsula, from the fields of
02:04Flanders to the streets of Kandahar, we have fought and died alongside you.
02:13During your darkest hours, during the Iranian hostage crisis, those 444 days we worked around
02:21the clock from our embassy to get your innocent compatriots home. During the summer of 2005,
02:28when Hurricane Katrina ravaged your great city of New Orleans, or mere weeks ago, when
02:35we sent water bombers to tackle the wildfires in California. During the day the world stood
02:44still, September 11th, 2001, when we provided refuge to stranded passengers and planes.
02:54We were always there, standing with you, grieving with you, the American people.
03:04Together, we've built the most successful economic, military, and security partnership
03:11the world has ever seen. A relationship that has been the envy of the world. Yes, we've
03:19had our differences in the past, but we've always found a way to get past them.
03:26As I've said before, if President Trump wants to usher in a new golden age for the United
03:33States, the better path is to partner with Canada, not to punish us. Canada has critical
03:43minerals, reliable and affordable energy, stable democratic institutions, shared values,
03:51and the natural resources you need. Canada has the ingredients necessary to build a booming
03:59and secure partnership for the North American economy, and we stand at the ready to work
04:05together. Let's take a moment to talk about our shared
04:10border. Our border is already safe and secure, but there's always more work to do. Less than
04:201% of fentanyl, less than 1% of illegal crossings into the United States come from Canada.
04:29But hearing concerns from both Canadians and Americans, including the American President
04:34himself, we're taking action. We launched a $1.3 billion border plan that is already
04:43showing results. Because we, too, are devastated by the scourge that is fentanyl. A drug that
04:52has torn apart communities and caused so much pain and torment for countless families across
04:58Canada just like in the United States. A drug that we, too, want to see wiped from
05:05the face of this earth. A drug whose traffickers must be punished. As neighbours, we must work
05:14collaboratively to fix this. Unfortunately, the actions taken today by the White House
05:23split us apart instead of bringing us together. Tonight, I am announcing Canada will be responding
05:33to the U.S. trade action with 25% tariffs against $155 billion worth of American goods.
05:45This will include immediate tariffs on $30 billion worth of goods as of Tuesday, followed
05:52by further tariffs on $125 billion worth of American products in 21 days' time to allow
06:00Canadian companies and supply chains to seek to find alternatives.
06:07Like the American tariffs, our response will also be far-reaching and include everyday
06:13items such as American beer, wine, and bourbon, fruits and fruit juices, including orange
06:20juice, along with vegetables, perfume, clothing, and shoes. It'll include major consumer products
06:28like household appliances, furniture, and sports equipment, and materials like lumber
06:34and plastics, along with much, much more. And as part of our response, we are considering,
06:43with the provinces and territories, several non-tariff measures, including some relating
06:49to critical minerals, energy, procurement, and other partnerships. We will stand strong
06:56for Canada. We will stand strong to ensure our countries continue to be the best neighbours
07:04in the world. With all that said, I also want to speak directly
07:11to Canadians in this moment. I'm sure many of you are anxious, but I want
07:18you to know we are all in this together. The Canadian government, Canadian businesses,
07:26Canadian organized labour, Canadian civil society, Canada's premiers, and tens of millions
07:33of Canadians from coast to coast to coast are aligned and united. This is Team Canada
07:41at its best. And now is also the time to choose Canada.
07:51There are many ways for you to do your part. It might mean checking the labels at the supermarket
07:56and picking Canadian-made products. It might mean opting for Canadian rye over Kentucky
08:03bourbon or forgoing Florida orange juice altogether. It might mean changing your summer vacation
08:10plans to stay here in Canada and explore the many national and provincial parks, historical
08:17sites, and tourist destinations our great country has to offer.
08:21It's time to choose products from here and support businesses from here. Support our
08:29agricultural producers, our manufacturers, our workers, our entrepreneurs, our artists.
08:36It might mean doing all of these things or finding your own way to stand up for Canada.
08:45In this moment, we must pull together because we love this country. We pride ourselves on
08:53braving the cold during the long winter months. We don't like to beat our chests, but we're
08:59always out there waving the maple leaf loudly and proudly to celebrate an Olympic gold medal.
09:06Canada is home to bountiful resources, breathtaking beauty, and a proud people who've come from
09:15every corner of the globe to forge a nation with a unique identity worth embracing and
09:21celebrating. We don't pretend to be perfect, but Canada
09:27is the best country on earth. There's nowhere else that I and our 41 million strong family
09:35would rather be. And we will get through this challenge, just as we've done countless times
09:43before, together. Thank you. Merci. Vive le Canada.
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